🔥 $ETH Emergency message‼ ️ The U.S. Securities and Exchange Commission reports that Bitcoin has exceeded $70,000 and Ethereum has soared by more than 15%.
On Monday (May 20), Bloomberg analyst Eric Balchunas wrote: The probability of approval of the spot Ethereum ETF has been increased from 25% to 75%.
Said: I heard some rumors this afternoon that the U.S. Securities and Exchange Commission (SEC) may make a 180-degree turn on this issue.
Can Ethereum spot ETF become the new narrative of the cryptocurrency market in May?
The current status of Ethereum spot ETFs
The application for the U.S. Ethereum spot ETF was first applied by VanEck on October 27 last year, followed by 21 Shares&Ark, Hashdex, Grayscale, Invesco&Galaxy, Fidelity, BlackRock and Bitwise. However, judging from the previous SEC approval process for Bitcoin spot ETFs, a decision will be made within the deadline for the first ETF application, a total of 240 days, and the final time is May 23 this year.
Grayscale still maintains high confidence in the approval of Ethereum spot ETF
Coinbase analysis: Market underestimates the possibility of “Ethereum spot ETF approval”
Coinbase analyst David Han said that although the market generally believes that U.S. authorities will not release it in the short term, the possibility of an Ethereum spot ETF being approved is still underestimated.
David Han said in a report last week: "We believe the market may underestimate the timing and probability of approval. Ethereum may still have the potential for unexpected gains in the coming months, and there is obviously no supply glut. Sources of large increases, such as token release or selling pressure from miners
